DHFL, one of India's leading housing finance companies, expects 30% surge in disbursements from Karnataka, this year. This is in accordance with its overall plans of expanding its disbursement book size by 30% across India. Supplemented by the thrust offered by the Government's Housing initiatives including 'Housing for All by 2022', 'Smart Cities Mission', PPP policies, implementation of RERA, interest rate subventions and other important regulatory initiatives, DHFL has launched several initiatives to aggressively expand its credit facilities, creating customized products and services best suited for low and middle income customers in tier 2 and 3 towns.
Santosh Nair, President and Chief Business Officer, DHFL stated, ''The government's efforts towards ensuring the success of 'Housing For All by 2022' mission has laid a very strong foundation for the affordable housing industry. This is positively impacting India's mortgage-to-GDP ratio and advancing the country's macroeconomic growth. Leveraging these opportunities and gaining support from the conducive environment, DHFL has been on a growth trajectory. DHFL registered a net profit increase of 26% to Rs. 1,172.1 crore for the year ended March 31, 2018. Assets Under Management (AUM) grew by 33% year-on-year, reaching Rs 1,110.86 billion from Rs 835.60 billion as on March 31, 2018. In the last quarter Q4 FY18, we witnessed loan disbursements of Rs 157.68 billion for the quarter ended March 31, 2018, showing an increase of 81% over the corresponding period of the previous year.''
Further commenting on the growth prospects in Bengaluru and Karnataka, Nair added, ''The Housing sector in Bengaluru has been witnessing a boom especially in the low and middle income segment. We are expanding our credit facilities, focusing on developing greater financial awareness for the segment and creating the right products through customization, to become the preferred choice for home loans and deposit products for LMI customers. In this favorable scenario, we are optimistic about achieving ~30% growth in home loan disbursements from Karnataka.''
Shares of the company declined Rs 5.85, or 0.93%, to trade at Rs 625.80. The total volume of shares traded was 201,156 at the BSE (11.07 a.m., Friday).
